NBK officially joins UN Global Compact

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NBK UNGC deal
PHOTO/COURTESY

The National Bank of Kenya (NBK) on Tuesday officially joined the United Nations Global Compact (UNGC).

Founded in 2000 as a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to private sector companies everywhere to align their operations and strategies with the Ten Principles in the areas of human rights, labour, environment, and anti-corruption and take actions that advance societal goals.

With its signing, NBK commits to adopting ethical and responsible business practices in its day-to-day operations, and organizational culture.

According to NBK Managing Director Paul Russo, participating in the United Nations Global Compact will strengthen the lender’s commitment to realizing the UN Sustainable Development Goals (SDGs).

“As NBK, we are particularly keen to take strategic action on SDG 6 by ensuring equitable access to safe and affordable drinking water for all through our recently launched Water, Sanitation and Hygiene program that supports SMEs investment in the sector,” said Russo.

On her part, Judy Njino the Executive Director of Global Compact Network Kenya lauded NBK for joining UN Global Compact.

 “We applaud NBK’s commitment to the United Nations Global Compact to support the acceleration of the financial institution’s sustainability work. The financial sector has a key role to play in achieving both the Ten Principles of the UN Global Compact and the SDGs. National Bank of Kenya is well-positioned to invest in projects which have a positive impact on the economy, society, and the environment,” Njino said.

As a signatory, NBK will be required to submit an annual Communication on Progress (CoP) report, demonstrating to its stakeholder its progress in working towards the Ten Principles of the UN Global Compact.

“We support public accountability and transparency in our operations, and therefore we commit to reporting on progress within one year of joining the UN Global Compact, and annually thereafter according to the Global Compact COP policy,” Russo added.

NBK joins more than 260 Kenyan companies in signing to the UN Global Compact.

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